17,864 Shares in IMAX Co. (NYSE:IMAX) Purchased by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp bought a new position in IMAX Co. (NYSE:IMAX) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 17,864 shares of the company’s stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also bought and sold shares of IMAX. Dimensional Fund Advisors LP lifted its holdings in IMAX by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,454,524 shares of the company’s stock valued at $21,847,000 after acquiring an additional 10,358 shares during the period. Private Capital Management LLC boosted its position in shares of IMAX by 10.0% during the first quarter. Private Capital Management LLC now owns 1,304,364 shares of the company’s stock valued at $21,092,000 after buying an additional 118,649 shares during the period. Victory Capital Management Inc. boosted its stake in shares of IMAX by 33.1% during the second quarter. Victory Capital Management Inc. now owns 1,293,221 shares of the company’s stock valued at $21,687,000 after purchasing an additional 321,506 shares during the period. Thrivent Financial for Lutherans boosted its position in IMAX by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 819,325 shares of the company’s stock valued at $13,740,000 after buying an additional 42,952 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of IMAX by 90.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 587,694 shares of the company’s stock worth $9,856,000 after buying an additional 279,410 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Macquarie raised their target price on shares of IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research report on Wednesday, July 24th. Wedbush lifted their price target on IMAX from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Rosenblatt Securities lifted their price target on IMAX from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $22.00 price target on shares of IMAX in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

IMAX Trading Down 5.0 %

Shares of IMAX stock opened at $19.11 on Tuesday. The firm has a fifty day simple moving average of $20.21 and a 200-day simple moving average of $17.83. The company has a market capitalization of $1.01 billion, a PE ratio of 39.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. IMAX Co. has a twelve month low of $13.20 and a twelve month high of $22.13.

IMAX (NYSE:IMAX) last issued its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. Equities research analysts predict that IMAX Co. will post 0.69 EPS for the current year.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.